Standard Life saw a marginal increase in gross inflows into its retail fee business in the three months to 30 September, as global financial markets volatility stunted investor sentiment.
The group said inflows in the quarter were £1.5bn in the quarter, up 1% on the same period last year. Gross inflows for the nine months to 30 September are up 6% to £5.2bn. Standard Life said the number of adviser firms now using its Wrap platform has increased to 969, up some 25% on the same stage in 2010. The average assets under administration on Wrap is now £7.9m per firm, it said, up from £6.7m last year. Meanwhile, total SIPP customers increased to 127,700, an increase of 26% year-on-year and 19% since the start of 2011. Gross inflows into annuities in the quarter increased b...
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